• About
  • Advertise
  • Careers
  • Contact
Tuesday, September 26, 2023
  • Login
The DailyTimes Nigeria
  • World
  • Regional
  • Politics
  • Business
  • Entertainment
    • All
    • Gaming
    • Movie
    • Music
    Victoria Beckham's French debut

    Paris Fashion Week Begins! Awaiting Victoria Beckham’s French Debut

    Hushpuppi

    Hushpuppi May Get 11 years in Prison

    Nigerian Author and Director of “Half of a Yellow Sun”, Biyi Bandele is Dead

    HBO Succession

    Emmy nominations: HBO “Succession” Tops List, Beats Netflix

    r kelly

    R. Kelly Sentenced to 30 Years in Jail

    American Rapper Lil Tjay

    American Rapper Lil Tjay Shot and Killed in New Jersey By

    2022 Billboard Music Awards

    List of 2022 Billboard Music Awards Winners

    Nollywood entertainer Leo Mezie

    Nollywood Entertainer Leo Mezie Dies After Battle With Kidney Disease

    Atlanta Rapper Lil Keed

    24-years Old Atlanta Rapper Lil Keed Dies

  • Lifestyle
    • All
    • Fashion
    • food
    • Health
    • Tech
    • Travel
    Tinubu

    How Tinubu is Continuously Losing Allies Due to Muslim-Muslim Ticket

    Senator Abdulahi Adamu

    Muslim-Muslim Ticket: APC To Replace National Chairman, Adamu, with a Christian to Gain Christian Voters

    Covid-19 Stigma

    Covid-19 Stigma: Covid Patients in China and Their Exclusion Ordeal

    Nigerian Author and Director of “Half of a Yellow Sun”, Biyi Bandele is Dead

    Biden

    America Declares the Fight against Monkeypox as an Emergency

    nigeria telecom operators

    FG Add 5% TAX on All Telecommunications Services to Raise Debt Servicing Revenue

    monkeypox vaccines

    European Commission Approves Smallpox vaccine for Monkeypox Prevention

    spider silk

    Spider Silk-based High-tech Patch As Cure to Arthritis

    Whole Bible Believers Church

    How Police Extricated 77 People From Whole Bible Believers Church In Ondo

    funke, jjc

    JJC Skillz and Funke Akindele Celebrity Marriages Crashes

    Trending Tags

    • Golden Globes
    • Mr. Robot
    • MotoGP 2017
    • Climate Change
    • Flat Earth
  • Sports
No Result
View All Result
  • World
  • Regional
  • Politics
  • Business
  • Entertainment
    • All
    • Gaming
    • Movie
    • Music
    Victoria Beckham's French debut

    Paris Fashion Week Begins! Awaiting Victoria Beckham’s French Debut

    Hushpuppi

    Hushpuppi May Get 11 years in Prison

    Nigerian Author and Director of “Half of a Yellow Sun”, Biyi Bandele is Dead

    HBO Succession

    Emmy nominations: HBO “Succession” Tops List, Beats Netflix

    r kelly

    R. Kelly Sentenced to 30 Years in Jail

    American Rapper Lil Tjay

    American Rapper Lil Tjay Shot and Killed in New Jersey By

    2022 Billboard Music Awards

    List of 2022 Billboard Music Awards Winners

    Nollywood entertainer Leo Mezie

    Nollywood Entertainer Leo Mezie Dies After Battle With Kidney Disease

    Atlanta Rapper Lil Keed

    24-years Old Atlanta Rapper Lil Keed Dies

  • Lifestyle
    • All
    • Fashion
    • food
    • Health
    • Tech
    • Travel
    Tinubu

    How Tinubu is Continuously Losing Allies Due to Muslim-Muslim Ticket

    Senator Abdulahi Adamu

    Muslim-Muslim Ticket: APC To Replace National Chairman, Adamu, with a Christian to Gain Christian Voters

    Covid-19 Stigma

    Covid-19 Stigma: Covid Patients in China and Their Exclusion Ordeal

    Nigerian Author and Director of “Half of a Yellow Sun”, Biyi Bandele is Dead

    Biden

    America Declares the Fight against Monkeypox as an Emergency

    nigeria telecom operators

    FG Add 5% TAX on All Telecommunications Services to Raise Debt Servicing Revenue

    monkeypox vaccines

    European Commission Approves Smallpox vaccine for Monkeypox Prevention

    spider silk

    Spider Silk-based High-tech Patch As Cure to Arthritis

    Whole Bible Believers Church

    How Police Extricated 77 People From Whole Bible Believers Church In Ondo

    funke, jjc

    JJC Skillz and Funke Akindele Celebrity Marriages Crashes

    Trending Tags

    • Golden Globes
    • Mr. Robot
    • MotoGP 2017
    • Climate Change
    • Flat Earth
  • Sports
No Result
View All Result
The DailyTimes Nigeria
No Result
View All Result

Russia-Ukraine war: Nigeria Severely Exposed to Food Crisis -BCG report

by admin
June 1, 2022
in Featured, Latest News, National
0
Home National
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

According to a report by Boston Consulting Group (BCG), a global management consulting firm, Nigeria and 44 other countries worldwide are severely exposed to food crisis induced by the Russia-Ukraine war.

The consulting firm said in the report, titled “The War in Ukraine and the Rush to Feed the World,” that it “examined in detail the multiple direct and indirect impacts of the turmoil in Ukraine on global food systems.”

The BCG report, co-authored with Food Systems for the Future, also offered 30 short- and medium-term solutions to help respond to the crisis and strengthen global food systems’ resilience.

It stated that the affected countries, which were primarily concentrated in Africa, South Asia, and Latin America, were global hotspots as they experienced some of the worst effects of the crisis.

According to the BCG report, Nigeria and the other affected countries faced extreme poverty, which was exacerbated by the ongoing economic and social challenges associated with the COVID-19 pandemic.

The report identified additional factors worsening the food crisis, including a heavy reliance on food imports, high import bills, high inflation, a high debt burden, climate risks, and civil unrest.

According to the UN Task Team for the Global Crisis Response Group, an estimated 1.7 billion people, the majority of whom live in developing countries, could face severe food insecurity, higher energy prices, or increased debt burdens.
According to the report, each of these individual factors had a negative impact on people’s ability to feed themselves.

“At the same time, there is an urgent need to address them more holistically and across all sectors in order to reshape our food systems and counteract this humanitarian crisis—and future ones,” it stated.

While commenting on the findings, Stefano Niavas, Managing Director and Partner at BCG Nigeria, stated, “The impact of the Ukraine war on our food systems calls for a critical and immediate review of our budgetary allocation.”

“Currently, Nigeria spends more than 27 times its agricultural allocation on debt service.” With the Ukraine conflict and the lingering challenges of COVID-19, the continent’s average debt-to-GDP ratio is expected to rise from 60% to 70%.

“To mitigate the crisis’s impact on Nigeria’s food systems, the government and all critical stakeholders should ensure the provision of viable seedlings, support the growth of alternative nutritious grains, and drive the adoption of innovative farm practices.” The use of alternative fertilizer sources will help reduce the country’s reliance on food imports.”

Tags: Food Crisis
admin

admin

Next Post
buhari meets apc governors

APC Governors Mum On Buhari's Request to Choose His Successor

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recently

  • Latest News
Cubana Chief Priest Arrested By EFCC

Cubana Chief Priest Arrested By EFCC

1 year ago
Danielle Collins, Naomi Osaka

Naomi Osaka’s Aspirations of Winning a Third Consecutive US Open Marred By first-round Loss to Danielle Collins

1 year ago
fury tyson

Tyson Fury’s Cousin Murdered By Knife Attack

1 year ago
Mendy Saves Chelsea Three Points Against Brentford.

Mendy Saves Chelsea Three Points Against Brentford.

2 years ago
Governor Gboyega Oyetola

Federal High Court Revokes Osun’s Governor, Gboyega Oyetola Candidacy in The July 16th Election

12 months ago
FA Fines Chelsea £25,000 For Misconduct During Liverpool Match

FA Fines Chelsea £25,000 For Misconduct During Liverpool Match

2 years ago
Oil supply Cut By OPEC and its allies Led to Spike In Oil Prices

Oil supply Cut By OPEC and its allies Led to Spike In Oil Prices

12 months ago
IMF

IMF Downgrades its Global Economy Outlook Due to Surging Inflation

1 year ago
Facebook Twitter Youtube RSS
The DailyTimes Nigeria

The Daily Times is Nigeria's first Independent Newspaper known for unbiased journalist and reportage which has been anchored on decades of trust, research, unsentimental investigations, verified facts and unbiased reason.

Category

  • Business
  • Entertainment
  • Fashion
  • Featured
  • food
  • Gaming
  • Health
  • Latest News
  • Lifestyle
  • Movie
  • Music
  • National
  • Politics
  • Regional
  • Specials
  • Sports
  • Tech
  • Travel
  • Uncategorized
  • World

© 2021 The Daily Times Nigeria

No Result
View All Result
  • Politics
  • World
  • Business
  • Regional
  • National
  • Entertainment
  • Gaming
  • Movie
  • Music
  • Sports
  • Fashion
  • Lifestyle
  • Travel
  • Tech
  • Health
  • Food

© 2021 The Daily Times Nigeria

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Go to mobile version